JP Morgan launches first Ethereum-based tokenized money market fund

According to Foresight News, according to the Wall Street Journal, JPMorgan Chase is further entering the encryption field, and its asset management unit will launch the first tokenized money market fund based on the Ethereum blockchain. The fund is called "My OnChain Net Yield Fund", or "MONY" for short. JPMorgan Chase will inject US$100 million of its own funds, and the fund is open to qualified investors. Investors are required to have at least $5 million in investments or institutions with at least $25 million in assets, in addition to a minimum investment limit of $1 million. Investors can subscribe to the fund through JPMorgan’s Morgan Money platform and receive digital tokens to their crypto wallets.
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